ET had reported a PFC executive, who did not want to be identified, as saying that PFC had reservations about furnishing details sought by the registrar of companies and may oppose this in the National Company Law Tribunal as the official body was overstepping its domain. The executive also alleged that Kasliwal never looked into the functions of the company till it operated and that he had not used the loans for the project.

PFC’s director for finance, R Nagarajan, had declined comment on the matter, while the chairman had not responded to ET’s messages. In an emailed statement the company said “neither the Corporation nor any of its executives have officially commented” on the matter.